Sooper Articles - MQL4 For Automated Forex Trading

There are many platforms available for trading forex
and one of the popular one is metatrader4 from metastock. It is a
powerful software platform for trade execution, chart indicator trading
and expert advisor software. This expert advisor is programming codes
written to automate the trading strategy
to allow the computer to trade like a human. MQL4 or MetaQuotes
Language is the programming language for programming of trading
strategy.

MQL4 Program Structure

The
programming structure and syntax resemble C language. The programming
language has similar data types, operation & expressions, operators,
function and variables declaration. It comes with preprocessor and
predefined variables, init(), deinit() and start() which run your main
program codes. Below are some important function that you will be using
in your programming

Date & Time Functions

This is a
group of functions that provides trader with access to data of the
datetime type. It comes with handy selection of available function for
quick access to Day, Month, Year, TimeHour, TimeMinute and others. This
is particular usefull if you wan to limit your program to run during
certain quite hours or only selected weekdays of every week. You can
also program block out date for news release that will major impact the currency price.

Technical Indicator Functions

This
is a group of functions used specifically for technical chart trading.
MQL comes with really to use indicator for more then 30+ custom
indicator. The list includes and not limited to Simple Moving Average,
Bollinger Bands, Commodity Channel Index, Moving Average Convergence/Divergence, Relative Strength Index, Stochastic, etc

Trade Functions

This group of functions for executing trade related order and management of trade issues. You can execute trade
open and trade close, selection of particular trade, retrieve the order
history, change order parameters like stop loss, profit take, etc and
also check the order status. The most commonly used are OrderSend(),
OrderModify() and Orderclose().

Account Functions

This
group of function is for management of account information. This is
particular important if you are checking and limiting the account
information and performing money management. You can create checking
statement for account number, name and company. In additional, you can
check account balance, equity, margin and leverage for calculating your
lot size.

Common Functions

This group of function contains
alert, comment and pop out message box to notify trader user of any
issue for the program. I personally use it to alert low account balance
to ask user to top up their trading account balance and alert user if
they are not using the correct trading current for the Expert advisor, require them to double check.

File Functions

Many
programs may not use this as this may not be relevant to their trading
strategy but I used it to store some account information, date, time and
some trades order
information. This is usefully if you want your program to pickup from
last running state when encounter program crash, hang or power failure. I
personally tested and find this very usefull when you running on VPS or
dedicated server where power outage may happen at 0.1% (99.9% uptime)
or maintenance time (where your server will be off and restart).

You can find my codes in my Best Forex Ranking Cook Book Zip files for working *.MQL4 files. For more information visit my website bestforexranking dot com.

Finally, the first comprehensive guide to MQL programming is here!
Expert Advisor Programming guides you through the process of developing
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platform. In this book, the author draws on several years of
experience coding hundreds of expert advisors for retail traders
worldwide. You'll learn how to program these common trading tasks, and
much more: - Place market, stop and limit orders. - Accurately
calculate stop loss and take profit prices. - Calculate lot size based
on risk. - Add flexible trailing stops to your orders. - Count, modify
and close multiple orders at once. - Verify trading conditions using
indicators and price data. - Create flexible and reusable source code
functions. - Add advanced features such as timers, email alerts and
Martingale lot sizing. - Avoid common trading errors and easily
troubleshoot your programs. - Adjustments for fractional pip brokers
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Expert Advisor Programming can help you realize your automated trading
ideas in the shortest amount of time. This book features dozens of code
examples with detailed explanations, fully-functioning example programs,
and reusable functions that you can use in your own expert advisors!

Fully editable *.mq4 files that compile successfully with no errors (3MB zip file with 200+ EA codes. Including 40+ strategies from the Strategy Book. You can download the Free Strategy Book by joining my email newsletter on the right side of this website. Click "Buy Now" to make payment and instant down the Best Forex Ranking Cook Book at USD $79 (One time payment only) Click here for more info

Please inform me if unable to purchase or download (send to sngerge@gmail.com)

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